All of mine - the OP, the Zeusray father, and the S5 clone, have arrived.
They all have XPE emitters. All pull about 1.5A, 150-160lm after modding silicone wire to the springs.
The best build is the zeusray father (I bought the bronze). $3.59, really good build, and good tint! Close to NW.
I’m still considering to purchase the new LG emitter for $1 for these lights. Keeping it budget - double the lumens.
Mine arrived, does seem cheap, especially the lens end, but tail and switch not bad. Now I need to buy an 18650 cell. 
Springs on both ends inside, so no blob needed.
Has a very, lets use up a bunch of old parts feel to it, but I like the size, have to wait on operation.
Floating pill, sinking prospects.
Sorry if I seemed to recommend it. My homemade “S5 Clone”, OTOH, continues to impress…
I appreciate all of you who risked all your hard-earned cash to find out about this one!
Dim
We don’t know what the actual production cost of a light is, the shipping is heavily subsidized (again we don’ have any actual numbers) and for all we know the body and driver may cost a few cents and the biggest cost is the Cree chip (i also figure a Q5 is far less then a dollar)
Floating pill is a killer? Body is threaded so replace?
if you can find a Convoy type pill, I believe someone modified a P60 pill to fit
So cheap, worth it maybe for the parts, or worth it to roll the dice hoping to get lucky.
mine arrived today .
the stock driver was pulling 0.4 then i made the following change :
with the stock led i got little more than 1amps and a blueish color led,i replace the led with xml2 on copper and got 2.6amps
the lense and the reflector are plastic as said ,so if you dont have spare parts its not worth buy it,i had this : https://www.fasttech.com/p/1187501 and a spare xml2 on copper and made a nice cheap light.
Wow! Thanks nofearek9. I will check the driver on mine. If it is the same, I will try to move the wire and get a new led. But will it overheat and kill the led?
the stock led ,yes it will kill it ,in 1-2 seconds i got blue color.
EDIT
after 20-30 minutes playing with the flashlight my driver died after the above mode and now give very low output.
Now, try the FastTech 2-mode Direct-Drive high driver and see if you like that one better! 
already done it , got 5 amps with 20R ,ofcourse the pill almost got fire 
,so i just installed a spare driver with max 2amps i had.
These have raised in price to $3.99. 
As I found when trying to duplicate my first “roll-of-coins” light, the threads used can be significantly different. I’d hoped to be able to lego parts in my lights, but no way that will ever happen.
Assuming I can get the pill OD and thread pitch, is there a non-lathe way to get a pill this size threaded — without spending a ridiculous amount for a ~22mm die? OR… IS there anyone reading this who might be willing to turn pills for these? Round stock isn’t hard to find, but machine tools can be.
At the OP price, it might be cheaper to buy two, saw the threaded parts off the body of one, then use those threaded bits as hollow pills for the other. Except you’d need a much bigger spare-parts bin…
Not to keep harping on this, but IMNERHO it’s worth the trouble to work this out. This form factor has turned out to be awesome for an 18650-based EDC work/task light.
That’s the “BLF Bump”. They noticed us buying them & thought they’d found a winner.
Still not unreasonable for a Mod Host, but not worth the trouble as built. IMNERHO, of course!
I have mine, its not quite the same as was listed, but at $3 shipped I’m waiting on one of the cheap 18650 battery sellers to get back to me so I can buy my first cell and see if it works.
US $2.86 / piece
For that price…ok
For much higher no
I have one of these…the daggum clicky already died, after fiddle futzing with it got it to work again…but is NOT 800 lumens and couldn’t handle the heat from a high output emitter (the tube is very thin)
These make GREAT GP throw around lights but that is about it (toolbox, fishing tackle box, kids going out in the back yard in the dark lights…stuff like that)…but for less than $3 and some laptop pulls…great cheap lights
These are VERY cheaply made lights
if you want an EDC that looks just like that but CAN handle the heat…get a Convoy S5 from FT
Going back to the beginning of the thread…already said all ^ that 
Yes I have two of these $2.86 lights and one of them is modded. The pill is so shallow that I had a hard time fitting a Nanjg 105C in there. For the price it is not bad, at least the light itself is still cheaper than buying a single XP-E separately. But if you are looking for a good mod host you might want to go for the Convoy series lights.
you can wrap the pill with foil (aluminum or copper).to handle the heat better.this light is worth only if you have spare parts.